Illinois Statutes Chapter 40. Pensions § 5/15-110. Basic compensation

(1) the value of maintenance, board, living quarters, personal laundry, or other allowances furnished in lieu of salary which are considered gross income under the federal Internal Revenue Code of 1986,  1 as amended;

(2) the employee contributions required under Section 15-157;

(3) the amount paid by any employer to a custodial account for investment in regulated investment company stocks for the benefit of the employee pursuant to the University Employees Custodial Accounts Act;  2

(4) the amount of the premium payable by any employer to an insurance company or companies on an annuity contract, pursuant to the employee's election to accept a reduction in earnings or forego an increase in earnings under Section 30c of the State Finance Act,  3 or a tax-sheltered annuity plan approved by any employer; and

(5) the amount of any elective deferral to a deferred compensation plan established under this Article or Article 24 of this Code pursuant to Section 457(b) of the federal Internal Revenue Code of 1986, as amended.